Luxury marketing strategies that drive high-end sales
Beginning with the basics, the very notion of luxury marketing is to promote and sell high-end products. By combining strong brand names with a luxurious perception of a product, businesses can define that product as high-end and sell it at a higher price. And so, companies looking to redefine their products for a high-end audience or expand their brand further look to luxury marketing strategies that drive high-end sales. Today, we take a closer look at the ten most popular strategies for marketing to luxury consumers.
Start by knowing who your consumers are
As we’ve explained in the past, the better you understand your consumers, the easier it will be for you to attract the right crowd to your website. And understanding luxury consumers can provide you with new ways to influence them and attract new high-end audiences for your products. So, the first step in choosing the best of luxury marketing strategies that drive high-end sales is to look at your audience. Profile your average consumer and consider what their priorities are when looking for high-end products such as yours. Consider the following questions?
- What is the role of a brand name in the buying decision of your customers?
- Are they more interested in the visual appeal of the product or its performance?
- What is their capacity to recognize quality in products?
- Have they been saving up for a high-end product or is it a matter of bragging right for them?
These are just some of the questions that will help you identify the behavior of your luxury consumers and what drives them to make purchases. And based on that information, it will be easier for you to motivate them through marketing strategies tailored specifically for them. Managing brand reputation and recognition can only get you so far today. Your brand needs to convey a strong and engaging message to its target luxury audience.
Drive more high-end sales with these ten luxury marketing strategies
Recent studies show that digital marketing now influences as much as 80% of all luxury sales. Despite its initial slow start, the notion of luxury online shopping has now become a dominant everyday occurrence. As consumers continue to spend more time than ever on their mobile devices, digital marketing companies are adapting their solutions to meet the needs of high-end consumerism and product advertising. And so, we come to these ten strategies that are sure to boost the placement of your high-end products so long as you take the time to implement them properly:
1. Use the visual appeal that social media platforms provide
Visual representation plays a vital role when it comes to promoting high-end products. By using different angles and high-quality images, companies are able to provide a more unique and luxurious representation of products such as vehicles, clothing, perfumes, jewelry, apartments, etc. Visual appeal is something that social media marketing can definitely put an accent on. With networks such as Pinterest, Instagram, and Facebook to promote images of products and services, you can definitely boost your sales process.
2. Present your website as a luxury showroom
Your brand can get you the attention of luxury consumers, but your website is the deal-closer. It is the showroom that will instill a sense of grandeur in their eyes. And so, you need to ensure that your website embodies style, user experience, and functionality – all in one. While style is a common occurrence among luxury brand websites, performance tends to fall behind. And this is where a little ingenuity from a skilled team of web developers can really make a difference.
- Start working on the online portrayal of your high-end product to luxury consumers by scheduling a consultation with our team of web developers today.
3. Use your brand story to inspire consumers
In his book “Building a Story Brand“, Donald Miller explains the importance of creating the story behind the product. Modern consumers are overwhelmed with marketers looking to promote the functionalities of products in comparison to others. But what they are more interested in is getting the story behind why the product exists in the first place. Your brand message shouldn’t focus on what makes your product the best choice but how your target audience can be at their best with the use of your product.
By explaining the values that define your luxury brand and conveying the story behind its existence, you can give customers something to think about. And that is why storytelling through your brand is one of the more effective luxury marketing strategies. In our previous article, we touched on the topic of answering different needs of customers through your brand. Take a closer look to find out how your sales can grow with some of the tactics there.
4. Endorse exclusivity through the use of your products
Using the sense of exclusivity in advertising is one of the fundamental luxury marketing strategies for selling high-end products.
- Just take the example of the whiskey distilleries. Depending on the ingredients and destination process, you can have hundreds of whiskey manufacturers with their own blends. From those arise well-known and recognizable brands such as Jameson, Jack Daniels, etc. But to make their products into high-end ones, whiskey manufacturers introduce exclusivity by offering aged whiskeys and limited edition products. And this is what makes an already high-quality product into a luxury one – that definition of exclusivity.
Luxury consumers thrive on scarcity and rarity because it gives them a sense of power over others – owning something that not everyone can. It instills that sense of being among a selected number of individuals, and taking it digitally is not as ineffective as some would have you believe. Exclusivity still remains present for high-end products despite you being able to order products online.
The difference is that digital marketing solutions offer more room for building a story around the products and evoke purchases through content. And introducing exclusivity comes easily by:
- Using trust badges and seals;
- Attaching terms such as “limited edition, one-of-a-kind, custom-made, premium selection” etc.
- Creating membership groups and programs;
5. Facebook advertising
Whether we are discussing paid or organic Facebook ads, either option can prove very beneficial for high-end products. It is a fact that Facebook remains the dominant social media network on a global scale. And it is also very true that Facebook Ads offer a wide scope when it comes to audience segmentation and targeting.
So, you could easily target your paid Facebook advertising campaigns to appear for single 30-year-old males from Manhattan that like sports cars such as Lamborghini, Aston Martin, Ferarri, Porche, etc. You can even go as far as narrowing your advertising to specific niches, colleges, job titles, hobbies, etc.
6. SEO can always offer value, no matter the type of audience
Despite the overall awareness of a brand on a national or global scale – its online visibility still plays an essential role. Even luxury consumers rely on Google when searching for high-end products and specific brands.
Much like the lack of website performance we discussed earlier, a lot of luxury brands tend to neglect the key benefits of SEO for businesses. When you add this to poorly performing websites, ranking high on search results becomes increasingly difficult. This might seem acceptable for companies interested in selling a limited number of high-end products. However, the truth is that SEO is a very unused digital marketing channel for luxury brands. And by simply taking the time to consult with professional SEO agencies, you might be able to tap into a gold mine for your brand.
7. Enrich your high-end products with quality content
People tend to associate the marketing of luxury products with minimalist content that is visually appealing. And they are right to do so. You have a lot of strong brands that promote high-end products with the use of long-form visual content. Given the need for modern consumers to spend as little time and energy as possible on skimming through content, this approach can really hit the spot if done right. There are plenty of advantages to creating this type of content:
- Easy to share with others via social media networks;
- Simple to remember with the right tagline;
- Very welcoming in terms of growing brand awareness;
- Practical for email marketing campaigns and other advertising channels;
- Great for boosting organic traffic for your website.
8. Appeal to the desire of others to display their status
Consumers today want to put a label on their purchases because it helps define their individual interests and traits. For example, charities tend to dominate Facebook newsfeeds with likes and shares because people can project their own sense of right through them. It is a way for people to feel charitable or socially conscious, by sharing the word of their donation or opinion on a subject.
By offering consumers a guide or discussion platform for a high-end product such as makeup or clothing, consumers will jump at the opportunity to share that and add their own opinion to it. It empowers consumers to be able to pile on their “expertise” on a subject and to project a trait they see as valuable. Brands can take advantage of this by creating and publishing content that, when others share, will make them look stylish, smart, or cool to their friends. Present your product as an expression of status among others and watch your sales grow.
9. Make your email campaigns available to all
A lot of companies that sell high-end products make the mistake of limiting their number of subscribers to promote exclusiveness. And this is a mistake as it closes off part of their target audiences. By making your email campaigns available to everyone, you can grow your number of subscribers, educate them on your product, and ultimately convert them into customers no matter the price. You need to use the notion of email marketing campaigns as a tool that will pique the interest of prospective buyers by appealing to their desire to pay more for a luxury product that offers quality.
10. Put together the online and offline experience
Like all other businesses, companies that promote high-end products need to grow with trends and adapt to their consumers. And that means making compromises in your approach to marketing and sales processes. That is why the best luxury marketing strategies that drive high-end sales are those that combine the use of online and offline strategies.
Companies can still put their focus on consumers visiting their retails stores to buy products while encouraging them to share images, videos, and other forms of content online. By combining the two approaches, a business can maintain its revenue while growing the exposure of their brand, thus attracting more customers to their stores, be it offline or online.
Start adapting to changes in luxury consumer behavior
The more high-end and limited your products are, the harder it will be to identify a singular type of consumer. And so, businesses will have to tailor their marketing strategies to each of their consumers, constantly working on innovative ways to promote luxury and grow brand awareness. That is where the knowledge and resources of nimble digital marketing agencies such as Digital Dot come into play. Our team can create customizable digital solutions to help promote your product through a plethora of online channels.
- Join a select number of businesses and start working on luxury marketing strategies that drive high-end sales for your business by contacting our agency today!